account

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Account

In the context of bookkeeping, refers to the ledger pages upon which various assets, liabilities, income, and expenses are represented.

In the context of investment banking, refers to the status of securities sold and owned or the relationship between parties to an underwriting syndicate. In the context of securities, the relationship between a client and a broker/dealer firm allowing the firm's employee to be the client's buying and selling agent. See: Account executive; account statement.

Account

An agreement between an institution and a person, or another institution, whereby the first institution agrees to hold money and/or other assets on behalf of the second. What the holder may do with those assets depends upon the nature of the account. In a checking account and a savings account, a bank holds money for the client and pays it (them or he/she) a certain percentage in interest. This payment gives the bank the right to lend the money to other clients or invest it within the confines of law and banking regulation. However, the client has the right to withdraw the total amount of money on demand. In a brokerage account, a brokerage holds money and securities for the client and makes transactions with them at the client's request. In exchange, the brokerage charges commissions for the transactions.

account

1. The client of a broker, brokerage firm, or broker-dealer. The client may be a business, an individual investor, or an institutional investor.
2. The record of a client's transactions and investment position. See also account statement.

account

  1. a LEDGER record in which is entered details of all financial transactions relating to an individual supplier (in the creditors' ledger), or customer (in the debtors' ledger), or particular asset or liability (in the assets ledger), or type of expense or receipt (in the nominal ledgers). See DOUBLE ENTRY ACCOUNTS, ACCOUNTING.
  2. a BANK or BUILDING SOCIETY'S record of its dealings with a particular customer which itemizes the customer's business with the bank such as deposits of cash and cheques and withdrawals of funds.
  3. a CUSTOMER. A ‘key account’ is an important customer.
References in periodicals archive ?
What puzzles me is why it has taken so long for Tony Blair and his mates to be brought to account for their lies and deception over Iraq.
I know referees have a hard job and need a bit of protection but they must have the only job in the world where you can make mistakes left, right and centre and not be brought to account.
It is clear that the Government is not prepared to listen to the voice of the people and should this situation be allowed to continue, it will be the Labour Party that will be brought to account not OPEC.
Meanwhile, not one single banker in this country has been properly brought to account.
Ms Ritchie said: "It is particularly heartening to see, in light of the current financial climate, that professional thieves are being brought to account and forced to repay the money they have stolen from taxpayers.
They want someone brought to account for the theft of Mr Robinson's wallet, seemingly taken as he lay in a Thornaby street after he was punched to the ground, banging his head.
Country wide flagrant "Henry Halls Up" of official buildings have happened and no one is brought to account.
I look forward to seeing an increase in the number of police officers brought to account for incidents and to seeing them reported in the ECHO.
Boothy was celebrating with his own fans, not inciting the home supporters, and at times I think referees should be brought to account for decisions.
No-one has ever been brought to account for the deaths.
If they fail to do so they will only be brought to account if they are reported to the Standards board by a member of the public or another council member and this can easily be overlooked.
When democracy is finally restored, only Zimbabwe's court can determine how Mugabe's regime is brought to account for its atrocities.